Singapore Gulf Bank Joins BNY’s Correspondent Banking Network | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Singapore Gulf Bank (SGB) announced on Tuesday a partnership with BNY, joining the American custodian’s correspondent banking network.
The company also gains access to BNY’s Fixed Income Brokerage platform in a move designed to deepen the Bahrain-based digital bank’s integration of traditional and crypto finance.
Through the correspondent banking arrangement, SGB noted that it adds BNY as a leading US dollar clearing provider, strengthening its ability to support real-time, around-the-clock settlement for global corporate clients.
The partnership is expected to complement SGB’s existing infrastructure, which already includes an integration with J.P. Morgan’s Wire 365 service for 24/7 USD settlement and clearing via SGB Net, the bank’s proprietary settlement network.
The addition of BNY’s Fixed Income Brokerage platform extends SGB’s product offering further, enabling the trading of money market funds and US Treasury bills.
This provides the bank’s crypto-native clients with a regulated avenue to allocate capital from digital assets into traditional fixed income instruments, including US government securities.
SGB, which is fully licensed and backed by Whampoa Group and Mumtalakat, described the partnership as the latest step in its strategy to build a compliant banking infrastructure that bridges digital and traditional currencies.
BNY will serve as an institutional vault and trading hub within that framework, allowing client funds to be invested into secure assets.
